The horse industry is big business

Graphic courtesy of the University of Minnesota Equine Extension Program. Used with Permission and Credited.
You may have heard the joke about “How do you make a small fortune with a horse business?”  Answer: You start with a large one! For years now, I have heard people say you can’t make a living working with horses. When we say something repeatedly, we tend to start to believe it. But what if the story of not being able to make a living with horses is actually false? What if you can make a living?

Recently, the University of Minnesota Equine Extension Program shared the graphic to the left on its Facebook page. Contrary to what you may have heard, the horse industry is booming. And it’s doing so because of equine business owners. Think of how many businesses it takes to maintain horses. A short list includes vets, farriers, feed stores, hay producers, tack stores, equine dentists, equine chiropractors, equine massage therapists, horse trainers, riding instructors, clinicians, horse breeders, horse associations, and horse rescuers.

One of the keys to being successful as an equine entrepreneur is to realize that while you love working in the horse world, it is a business. That means it has to be run as one. You have to start with a business plan and the correct business formation. You need legal contracts drafted by an equine attorney. You need to protect your company with a trademark. You need a marketing plan. You may need liability insurance. You may need documents specific to your equine business, such as barn rules. If you have all of these things in place as you start your business, it is easier to assess where and how you need to make changes if something isn’t working right or if you want to expand your business.

If you feel passionate about horses, contact me so we can discuss how I can help you start, build, or rebrand your equine business with my equine legal and business consulting services.

Brand your company

equine estate planning liability releases equine contracts equine businessBusiness reputation is important in the horse world. In this blog, I am going to explain how registering your trademark is an important way to protect your professional reputation.

I once knew someone – we’ll call her Sally – who moved cross country after riding with a trainer – we’ll call her Mary – for years in Florida. Sally started to search for a new riding horse in her new home. She came across one on a horse sales website that interested her and went to the listed website to learn more about the horse and the person selling the horse. She was shocked at what she found. On the main page of the website was the logo for Mary’s barn! It was flipped, as if appearing in a mirror, but it was clearly the same logo. Sally knew that Mary’s brother had hand drawn the logo several years before. She immediately contacted Mary to tell her about the stolen logo. Mary was a highly-successful trainer so she said she wasn’t worried about it. She said that no one would confuse her training services with the trainer who had stolen the logo. Besides, Mary lived all the way across the country. Sally never pursued the horse she found that led her to the website. She figured if that trainer would steal a logo, what else would she do that was dishonest.

horse law questions jo belascoMary didn’t think there was a problem with the other trainer using her logo because Mary was a higher-level and more famous trainer, plus she lived across the country. But such thinking can leave an equine professional open to problems. What if Mary decided she wanted to expand her training to that area? What if people looking online simply assumed that Mary and the trainer who stole her logo were somehow affiliated and that trainer engaged in deceptive practices? Or was a bad trainer? Or abused the horses under her care? Mary might be losing clients and gaining a bad reputation without even knowing it.

Mary could have prevented these problems by registering the logo with United States Patent and Trademark Office (USPTO). The USPTO defines a trademark as a “word, phrase, symbol or design, or a combination of words, phrases, symbols, or designs, that identifies and distinguishes the source of the goods of one party from those of others.” If Mary had a registered trademark, then she could have had an attorney force the trainer to take it off her website, either through a cease-and-desist letter or a lawsuit.

One of the main reasons for registering a trademark harkens back to horses and livestock. It relates to branding. You may have heard that you should brand your company. Branding your company is a way of identifying your business and setting you apart from your competition. Registering a trademark is an important part of branding. Why? Because one of the main issues the USPTO considers when determining if a trademark should be granted is whether it creates confusion in the marketplace. Let’s say you want to create a company that provides packages of natural supplements to horse owners. And you want to call it SmartyPak. Your chances of getting that trademark approved are slim to none Why? Because SmartPak, the supplement company, already has that name trademarked. Allowing for two similar trademarks would cause confusion in the marketplace.

What happens if you don’t register your trademark? Well, someone else could register the same or similar name. That may not seem like a big deal but think of this. Once someone has a registered trademark, they can enforce it by issuing cease-and-desist letters to companies that are using their trademark. They can even take that company to court. Let’s say you are using a certain business name and another company trademarks it. Even if you can avoid court, you will have to rebrand. What does that mean? You have to choose a new name and reform your company with that new name. You have to change all of your merchandise to the new name. You have to let your customers and clients know. It can be a very expensive and time-consuming endeavor, as you might well imagine.

Save yourself the time, money, and headache. Call me at 617-991-8905/413-829-0717 or send me a message. I can talk to you about the registration process and discuss my flat fee with you.